Dredging and Mining.

Cromwell Argus, Volume XLIII, Issue 2283, 5 February 1912, Page 5

Dredging and Mining.

A spell of warm weather during the past week caused the riveis to fall steadily, and both are now at a level that should enable the gorge dredges to make a start. The Electric I is making steady progress with repairs, but these are not yet completed and the dredge is thus unable to take advantage of the present favorable river. On Tuesday, Miller Bros commenced their contract of renewing the framing on the Electric II and this work will occupy some time. Hartley is still on payable ground in the beach, although last weeks figures are hardly up to the average secured previous to the recent stop page. The 909 dredge will commence work- again on Tuesday as the river is falling steadily. The dredge will open out at the foot of a stretch ol maiden ground some 500 yards in extent, at the top ot which a return of 17czs was obtained. As there art indications of soit bottom whert dredging will bo resumed a run of payable returns is anticipated. Expectations in regard to big returns from the hydraulic claims at Nevis give every indication of being fulfilled. The first worthy of note is from Graham and party. borne years ago excellent returns were won from this party’s claim, but the run cut out and was only picKed up at the end of last season. A wash-up last week for a few weeks run is re ported to yielded something over three figures, and even better than this is expected later on. Other claims are also reported to be on rich ground and with an abundance of water are having a good run. The Punt dredge is at present undergoing repairs. A company proposing to develop the deep levels at Boatmans, Keefton, have applied to the Mines Department for a £IO,OOO subsidy, reports the “ Westport Star. The Consolidated Company have made an application lor a similar amount to develop the deep levels in the Progress mine. As only one such grant can be made in the district, the applications clash. The matter is exciting a good deal of interest at Reefton. The dredgemaster of the Rising Sun reports tor the week ending 3rd February as follows: Dredged 188 hours and worked ahead 15 feet on a cut 100 yards wide. No change in the ground or bottom; raachmery running well. Shine I ground again shows a slight improvement and there are indications of payable returns in the course of a few weeks. Patches of poor ground have been struck at different intervals in the flat, and after the succession of big returns for the greater part of last year it was not unusual that a strip of poor ground should bo encountered. So far nothing definite has been announced in regard to a second dredge for the company. The annual statement of affairs of the New Lmggate Hydraulic Sluicing Company Limited, as at Blst December 1911, shows the Company was registered on sth December, 1908, and is now closed down. The nominal capital is £2OOO, of which £SOO was paid up in cash, and paid up scrip to the value £IBOO was given to shareholders. At the time ot registration the number of share* holders was nine, and the present number twenty<four. The amount of gold produced since re* gistration is OOOozs IBdwts 9grs, value £BSBI Bs Bd, and the amount since last statement OOozs 12dwts lOgrs, value £852 Is 2d. Expenditure since registration totals £lOlO 2s Bd, and since last statement £OBI 7s 2d, There is cash in bank £8 iss 51, and debts owing by the company £B7O The statement of affairs of the Nevis High Lead Sluicing and Elevat mg Company as at the Blst December 1911, shows the company was re* gistered on duly Ist, 1908, with a nominal capital of £2,100, of which lls per share or £1,170. has been called up in cash. The number of sliare holders at the time of registration of the company was and is still the same. The total quantity and value of gold produced since registrar tion is 2210zs Bdwts 9grs, value £7lO Is 7d, and since last statement 76ozs 17dwts Igr, value £2BO 15s Bd. The total expenditure since last state - ment is £519 0s 9d and since registration £1579 18s lid. The amount of cash in hank is £BB 2s lOd, debts directly due to the company and con* sidered good £ls, and debts owing by the company £25. The statement shows the company is closed down.

DUE DG1NG 1IET U HNS. Rising Sun .. . . 11 11 Hartley . . :5:{ 1 - Shine 1 . . . . . , L'.'J 10